en.Wedoany.com Reported - Kaishan Group Co., Ltd. ("Kaishan Group") recently signed a Strategic Cooperation Memorandum with Halliburton Energy Services, Inc. ("Halliburton") in Loxley, Alabama, establishing a deep strategic partnership aimed at jointly advancing the development and application of low-carbon energy technologies.
According to the memorandum, Halliburton will leverage its global leadership in high-temperature, high-pressure complex well construction, directional drilling, fracturing, and digital intelligent drilling technologies; Kaishan Group will rely on its expertise in modular geothermal power generation equipment manufacturing, comprehensive geothermal industry chain development (covering resource exploration to project operation), and green hydrogen and ammonia project development. The two parties will jointly explore efficient, low-cost Enhanced Geothermal System (EGS) drilling and power generation solutions. They also plan to seek cooperation opportunities in specific low-carbon and renewable energy projects, including geothermal energy development, EGS development, drilling optimization, integrated engineering execution for geothermal projects, digital drilling and subsurface optimization technologies, green hydrogen production, green ammonia projects, and related clean energy infrastructure. The parties will study the deployment of modular geothermal power generation systems and evaluate the possibility of integrating Halliburton's drilling technologies with Kaishan Group's power generation equipment.
The memorandum specifies that the two parties will, based on the strategic partnership, periodically discuss and evaluate potential project opportunities, exchange technical knowledge and best practices, and jointly consider project strategies and execution plans. Any specific projects, cooperation mechanisms, or commercial terms will be separately negotiated and confirmed in writing in future definitive agreements, which may include a Strategic Agreement and/or a Master Services Agreement.
Kaishan Group stated that through cooperation with Halliburton, it can introduce top-tier drilling and reservoir stimulation technologies, enabling it to develop EGS resources independently and potentially become a leading EGS developer. The two parties will also seek opportunities in low-carbon and renewable energy projects, participating in innovative projects in emerging energy sectors led by Halliburton. Leveraging Halliburton's global project execution network and engineering management experience, the cooperation will extend to high-value-added areas beyond geothermal power generation, including the production of green fuels such as green hydrogen and green ammonia using geothermal power.
The memorandum is currently in the project development and technology validation phase and is not expected to have a material impact on Kaishan Group's operating performance for the current year.
